Woodside plans to boost LNG output

According to multiple sources, Woodside Petroleum Ltd. is positioning to lift gas-export capacity in coming years in expectation that rising supplies of LNG will be absorbed by higher Asian demand.

Woodside announced on 22 February that it is planning to increase production at its Pluto LNG plant in Western Australia and potentially position the facility as a hub for undeveloped gas fields in the region.

Woodside's profit rebounded last year, jumping to US$868 million after being almost wiped out the year before by US$1.1 billion in asset impairments and charges following the slump in prices.

Woodside intends to first tap existing gas supplies around its Pluto operation and drive its production hard to lift output. It also will consider adding another smaller-scale production line at the facility and will lobby for gas from the undeveloped Scarborough and Browse fields off west Australia to be funneled through Pluto's operations.

A new production line could be added quickly to Pluto, lifting output by as much as 1.5 million metric tpy.